Cambridge Investment Research Advisors Inc. increased its stake in Philip Morris International (NYSE:PM) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,885 shares of the company’s stock after buying an additional 19,393 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Philip Morris International were worth $16,575,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Front Row Advisors LLC bought a new position in shares of Philip Morris International during the fourth quarter valued at approximately $118,000. Wolverine Asset Management LLC bought a new position in shares of Philip Morris International during the fourth quarter valued at approximately $126,000. Financial Engines Advisors L.L.C. increased its stake in shares of Philip Morris International by 399.2% during the third quarter. Financial Engines Advisors L.L.C. now owns 1,203 shares of the company’s stock valued at $134,000 after purchasing an additional 962 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of Philip Morris International during the fourth quarter valued at approximately $128,000. Finally, Bank of Nova Scotia Trust Co. bought a new position in shares of Philip Morris International during the third quarter valued at approximately $135,000. 72.18% of the stock is owned by institutional investors.
In related news, CEO Andre Calantzopoulos sold 49,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $103.66, for a total value of $5,079,340.00. Following the sale, the chief executive officer now owns 792,765 shares in the company, valued at $82,178,019.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc S. Firestone sold 13,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $104.63, for a total transaction of $1,428,199.50. Following the completion of the sale, the insider now owns 189,199 shares in the company, valued at approximately $19,795,891.37. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
Shares of PM opened at $103.30 on Wednesday. The company has a market cap of $158,196.47, a P/E ratio of 20.95, a PEG ratio of 1.90 and a beta of 0.86. The company has a quick ratio of 0.80, a current ratio of 1.35 and a debt-to-equity ratio of -3.06. Philip Morris International has a twelve month low of $95.51 and a twelve month high of $123.55.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.04). Philip Morris International had a net margin of 7.73% and a negative return on equity of 71.99%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.17 billion. During the same period last year, the business earned $1.10 EPS. Philip Morris International’s revenue was up 19.0% on a year-over-year basis. sell-side analysts anticipate that Philip Morris International will post 5.28 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 11th. Investors of record on Thursday, March 22nd were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.14%. The ex-dividend date was Wednesday, March 21st. Philip Morris International’s dividend payout ratio is currently 86.82%.
A number of equities analysts have weighed in on PM shares. Piper Jaffray reaffirmed an “overweight” rating and set a $137.00 target price (up previously from $130.00) on shares of Philip Morris International in a research note on Thursday, January 11th. Citigroup decreased their target price on shares of Philip Morris International from $117.00 to $114.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Jefferies Group raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 target price for the company in a research note on Friday, January 19th. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Finally, Morgan Stanley raised their price target on shares of Philip Morris International from $120.00 to $123.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $123.50.
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About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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